DOGE’s Uptrend Ends as It Faces Rejection at $0.17

Dogecoin (DOGE) Price Long-term Prediction: Bearish
The Dogecoin (DOGE) price has fallen below the moving average lines as it faces rejection at $0.17. On May 1, the bears plunged the altcoin to a low of $0.12, prompting bulls to buy the dips. The bullish momentum broke above the moving average lines, but it was stopped at the 50-day SMA, or the resistance, at $0.168.

The crypto asset is trading above the 21-day SMA but below the 50-day SMA. The altcoin is reverting towards the 21-day SMA support following the rejection. It is above the 21-day SMA and below the 50-day SMA resistance. DOGE/USD is now worth $0.152.

When the moving average lines are broken, the altcoin will begin to trend. For example, if the bears break below the 21-day SMA, the market will fall to its prior low of $0.12.

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading
DOGE price bars fall between the moving average lines. The crypto price will fluctuate between the moving average lines. The moving average lines are sloping horizontally due to the sideways trend. Doji candlesticks govern DOGE price behavior.

What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, the DOGE/USD corrects between the moving average lines as it faces rejection at $0.17. The upward movement was halted at the $0.17 resistance. Buyers failed to maintain the positive momentum. The altcoin has dropped following two rejections at its recent peak.

DOGE’s crypto signal is range-bound since the altcoin is trapped between the moving average lines.  

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